Your Rent is Too Late

[Steve Rozenberg]

How Late is Too Late When Paying the Rent?

[Thomas S.]

12:01 AM on the second of the month is TOOOOOOOOOO late.

Grace periods, late fees warnings are all a waste of time. Good tenants pay on or before the first, bad tenants pay late and should be either immediately trained to never do it again or a landlord should get rid of the problem and find a good tenant.

To add to marks process the next point is ....a second late will be a immediate notice to evict or non renew M2M lease. (I love the M2M non renew option, hate term leases).

Managing your business properly requires setting base line standards that are not moveable, training tenant to what the landlord expects and getting rid of/finding good tenants that will make the management of your business very low demand on time and resources. 

Tenants that pay late should never get a second chance.